A blockchain,[1][2][3] originally block chain,[4][5] is a continuously growing list of records, called blocks, which are linked and secured using cryptography.[1][6] Each block typically contains a hash pointer as a link to a previous block,[6] a timestamp and transaction data.[7] By design, blockchains are inherently resistant to modification of the data. The Harvard Business Review describes it as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way."[8] For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.

Bitcoin, created in 2009, was the first decentralized cryptocurrency.[4] Since then, numerous other cryptocurrencies have been created.[5] These are frequently called altcoins, as a blend of alternative coin.[6][7][8] Bitcoin and its derivatives use decentralized control[9] as opposed to centralized electronic money and central banking systems.[1 The decentralized control is related to the use of bitcoin's blockchain transaction database in the role of a distributed ledger.[11]

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies,[12] products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.[13] Research produced by the University of Cambridge estimates that in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.[14]

The debate of decentralization vs centralization is always polarizing. Decentralization is seen as a good thing in the cryptocurrency world. It turns anything that’s normally controlled by overbearing centralized authorities into a slippery eel that’s hard to shut down on. You get the same access to platforms like OpenBazaar and Blocklancer as everybody else because there’s no centralized third party controlling these platforms and telling you that you have to provide this bank account information and that photo ID card before you can download them. Nobody’s going to yank your listing just because some snowflake got offended or shut down your account just because you received an unusually large payment. That’s a good thing if you’re into buying and selling high-priced items and/or items that might run afoul of the Terms Of Use of popular mainstream platforms like eBay.

By being censorship-resistant and based on blockchain technology, Blocklancer and OpenBazaar can reach the markets that might be vulnerable to unfriendly governments and their regulations. In another article, I dished on how politicians don’t always get that the free market can provide tools that lift the less fortunate out of poverty. They may resent the implication that new technologies like distributed ledgers can do the job that they failed to do if they just keep their mitts off. That’s the value of having a decentralized platform that has no single, noticeable head.

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"Ok, so not that I've got the rundown, whats next? How do I buy/sell crypto's?"

First you'll need to sign up on an exchange. The most popular exchange that will get you up and running within a few minutes is Coinbase.

Coinbase is the easiest exchange to get started on if you want to buy Bitcoin, Ethereum, Bitcoin Cash, or Litecoin. (More coins have been announced to be coming later in 2018 )

Coinbase is the safest and easiest place for new crypto investors to get started. Great UI, easy to use website, and an easy to use app on mobile.

For "altcoins" (basically anything not Bitcoin), the easiest exchange to get set up and trading on is Binance.